Elon Musk to save almost $500M a year after firing 3,700 Twitter employees.

0
117

First it was Twitter CEO’s departure, then the Twitter Blue subscriptions price tag and now restructuring of 50% or up to 75% of the workforce .The new owner of Twitter, Elon Musk, has started firing employees. The layoffs came as Musk closed its $44 billion acquisition of Twitter.

Elon Musk has closed “temporarily and for security” all Twitter offices and has sent all his employees, 7,500 people , an email informing them individually about their continuity or not in the company.

Dozens of Twitter employees announced last night and this morning on this social network that their business e-mails were blocked. Some also sent farewell messages, thereby emphasizing that they are no longer employees of this company.

One of them is Catharine Broadnax, former Location Strategist and Twitter global place-maker:”Unfortunately, I have lost the job that I cared deeply and passionately about. Supporting Twitter’s growth globally, keeping our workforce safe, and planning our global strategy were my passions.”

Seems like others who did so were those who worked in the content department, AI ethics, marketing and communications, search and those from other departments.

It is not known exactly how many workers have been laid off and how many will be laid off. By the time multibillionaire Musk bought Twitter, the company had 7,500 employees. It is speculated that between 50 and 75 percent of that number could be laid off.

Musk, who is the head of the Tesla and SpaceX companies, is looking at how the social network currently operates and how to improve its operations.

But how much is Musk looking to save after firing 50% of Twiter’s workforce?

According to Comparably, the average Twitter Content Strategist earns $116,000 annually, which includes a base salary of $111,000 with a $5,000 bonus. Furthermore, average Community Manager nets around $80,000 per year while Brand Manager can hope to get around $117,000 which is the amount we will use to calculate just how much will the richest person in the world save on job cuts.

If we take $117,000 as an average yearly salary for a sacked Twitter employee it is quite easy to see that Musk will save around $432,900,000 each month.

At Twitter, the highest paid job is a Director of Sales at $350K annually and the lowest is an Admin Assistant at $46,994 annually. Average Twitter salaries by department include: Legal at $115,853, Admin at around $50,000, Marketing at $108,700, and Design at $100K.